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Nov 21, 2012
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thank you for joining us. the central bank has been criticized by some for not cutting sooner and more aggressively. and the key policy rate still sits at 4.5% with growth coming down so rapidly, shouldn't the bank be moving more quickly. >> well, of course, i can talk about myself and my own views, and i think that we are trying still to continue saying normal monetary policy, and when i look around in europe, especially western europe, i don't see many similar cases. that does not necessarily mean that we are wrong. >> who are you more critical of, the bank of england with its qe policy, or the ecb, which has been r been resistant on moving more quickly? >> i would put more criticism on the bank of england or the fed. in any case, i would agree with what a german philosopher once wrote in 2009 that would resolve around policies that it is a kind of a robbery of the future by the present. we are trying to avoid that. to an extent, it is possible for a small open economy. >> all well and good academically, but
thank you for joining us. the central bank has been criticized by some for not cutting sooner and more aggressively. and the key policy rate still sits at 4.5% with growth coming down so rapidly, shouldn't the bank be moving more quickly. >> well, of course, i can talk about myself and my own views, and i think that we are trying still to continue saying normal monetary policy, and when i look around in europe, especially western europe, i don't see many similar cases. that does not...
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Nov 8, 2012
11/12
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eunice is live for us. this is his big final speech, so reading in sort of between the lines almost is very telling. it's the legacy he's trying to cath. and what less gassy is that? >> many here believe what he is saying is significant in that it is his final farewell. he really was just reading through the work report to talks about the achievements, the economic and political achievements that the party has had. and also to outline the future challenges. one of the first challenges you had already addressed is the issue of corruption. he said the government needed to do more to root it out. >> eunice, we're having trouble with your sound. we'll get the bite rolled as soon as we can. when we hear from -- i'd like to go back to eunice if we can to stay on this issue. but there's been a lot of focus in the last couple of days as to whether china's next leaders will be reformists or conservatives and just what the influence is of some of the older party leaders. so should investors actually be bracing not fo
eunice is live for us. this is his big final speech, so reading in sort of between the lines almost is very telling. it's the legacy he's trying to cath. and what less gassy is that? >> many here believe what he is saying is significant in that it is his final farewell. he really was just reading through the work report to talks about the achievements, the economic and political achievements that the party has had. and also to outline the future challenges. one of the first challenges you...
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Nov 26, 2012
11/12
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jim dunagan joins us. that number that i gist quoted, how does that compare to last year's costs of buying all the items? >> for the true cost of christmas, we're up 4.8% this year and if you bought all of the items, 6.1%. >> what's been driving the rise? cost of food and feeding geese? >> culprits were the six geese and the seven swans a swimming were up the most, and that was due to the drought we had in the united states that pushed up feed prices and also energy. and gold rings were up 16% this year. >> is there anything in there that has actually got cheaper over the year? >> this is one year that in fact nothing has gone down this year. so we had six items which were flat, but the balance were all up. good news is that the maids a milking were flat as were the ladies dancing and lords of leaping all saw no increase this year. >> does that reflect the fact that wages haven't really done enough? flat wages? >> if we look at the overall wages in the index, they're bup 1.7%. drummers and pipers went up 5
jim dunagan joins us. that number that i gist quoted, how does that compare to last year's costs of buying all the items? >> for the true cost of christmas, we're up 4.8% this year and if you bought all of the items, 6.1%. >> what's been driving the rise? cost of food and feeding geese? >> culprits were the six geese and the seven swans a swimming were up the most, and that was due to the drought we had in the united states that pushed up feed prices and also energy. and gold...
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Nov 22, 2012
11/12
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joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48, manufacturing 46.8, is germany -- we just saw the 0.2% print. is girl aermany going to have a negative contract? >> i'm looking for a contraction of minus 0.2. so only aed modest one. i expect activity will stabilize in q1 of next year, but obviously that requires a favorable external environment, meaning u.s. not going into this deep due to the fiscal cliff. and also signs of improvement in asia. >> meanwhile the french pmi says the survey there suggests a 0.7% gdp drop in quarter 4 for france. >> that seems quite large. we've seen in recent quarters numbers out of front which were highe
joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48,...
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Nov 23, 2012
11/12
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let us know. worldwide@cnbc.com, at@cnbcwex,@ rosswestgate. >>> we'll be in tell a vee with the latel aviv with the latest when we come back. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> a recap of the headlines. draghi defends plans for a banking supervise or saying the central bank is the best candidate for the job. germany's ifo business climate index rises above forecasts for november. and the eu wubudget battle rage on as they pail to reach a compromise. israeli gunfire has reportedly killed a palestinian along the gaza border. stephanie gosk joining us. i don't know if you have anymore information about this, but if true, of course that would be the first incident since the cease fire. what's the latest there. >> >> it would be, ross. our team on the ground in gaza tells us this was a 20-year-old kid, he was with his fri
let us know. worldwide@cnbc.com, at@cnbcwex,@ rosswestgate. >>> we'll be in tell a vee with the latel aviv with the latest when we come back. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> a recap of the headlines. draghi defends plans for a banking supervise or saying the central bank is the best candidate...
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Nov 14, 2012
11/12
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eunice is with us in beijing. eunice, as we look from where we are at the moment, do we have any feeling on how many members there will be in that standing committee? the implications of that and the likely makeup? >> so far, we know that it's going to be somewhere between seven and nine. that's the number that people have been throwing out there. there's been a lot of expectation that the number on the standing committee, which is currently at nine, will be trimmed down to seven, which could potentially mean that policy will be easier to push through. some of the other things that people are talking about here is just how incredible it is that this is now the end of an era for the current president as well as the premier, really stepping aside as party chiefs for the next generation of leaders. now, the delegates today had come together and they approved the work report, which is endorsed by the president. >> translator: the most important policies and arrangements and greatest achievements will surely play a cri
eunice is with us in beijing. eunice, as we look from where we are at the moment, do we have any feeling on how many members there will be in that standing committee? the implications of that and the likely makeup? >> so far, we know that it's going to be somewhere between seven and nine. that's the number that people have been throwing out there. there's been a lot of expectation that the number on the standing committee, which is currently at nine, will be trimmed down to seven, which...
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Nov 12, 2012
11/12
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dominic is still with us. i suppose the question is what we've sort of global equities have priced in in terms of a scenario for the fiscal cliff. what do you think it is? >> i think markets have been sanguine about the whole issue and it's only after the election that we began to see nervousness. and i still think the likely outcome is the market will have to put further pressure on both sides before a deal is finally done. and i actually don't think we'll good a deal done this side of the new year. >> you yu don't? >> no, i don't. because the republicans have put themselves in a difficult position because they've actually said no way that they will endorse tax hikes. if they allow the tax increases to automatically go through on the 31st, they can then talk about tax cuts for the middle classes in january. it's cynical, but it may be what actually happens. >> so what happens on that? because there are some saying u.s. equitieses have already priced in the fiscal cliff and they look at it as a measuring of eq
dominic is still with us. i suppose the question is what we've sort of global equities have priced in in terms of a scenario for the fiscal cliff. what do you think it is? >> i think markets have been sanguine about the whole issue and it's only after the election that we began to see nervousness. and i still think the likely outcome is the market will have to put further pressure on both sides before a deal is finally done. and i actually don't think we'll good a deal done this side of...